On a Straight-Line Downward-Sloping Demand Curve, the Maximum Elasticity of Demand

question 209

Multiple Choice

On a straight-line downward-sloping demand curve, the maximum elasticity of demand occurs

• A) at its vertical intercept.
• B) at its midpoint.
• C) at its horizontal intercept.
• D) where it intersects the supply curve.

---

Definitions:

Majority Leader

The head of the majority party in a legislative body, who often has a significant influence in directing legislative priorities and managing actions on the floor.

Republican Decline

A period or trend where the Republican Party experiences a decrease in influence, support, or electoral success.

Newt Gingrich's Revolution

Refers to the significant political shift in the U.S. Congress led by Newt Gingrich in the 1994 mid-term elections, resulting in Republican control of both houses for the first time in decades.

Contract With America

A document released by the United States Republican Party during the 1994 congressional election campaign, outlining policy reforms and initiatives they promised to enact if they gained control of Congress.